Tuesday before the first Wednesday of the prompt month:Last trading time - by 18.00Last matching and registration - by 18.15

Expiry date/time

Any LME business day up to and including the first Wednesday of the expiring option month, from 08.00 up to:
11.15 for clearing members
11.10 for clients

Minimum price fluctuation (tick size)

$0.01 per tonne

Strike price intervals

$25 - for strikes from $25 to $9,975
$50 - for strikes from $10,000 to $19,950
$100 - for all strikes over $20,000

Exercise of options

Option exercise is a manual process.LME Clear auto-exercise in the money options that are equal to or greater than two strikes above and two strikes below the at-the-money strike, as determined by the end of day valuation price of the relevant third Wednesday prompt of the contract month, on the evening before the first Wednesday expiry day. There is manual exercise for the remaining close-to-the-money options. Options exercise will result in a third Wednesday futures contract.